This essential insurance is designed to protect your clients against loss of their deposit, incomplete or defective building work in the event that you die, disappear or your business goes into receivership before the project is completed. It covers the owners – and any subsequent owners – for defective works during the warranty period. Owner-builders looking to sell their home during the period a warranty is required, must also obtain Builders Warranty Insurance at the time of selling the property.
Cover for the laws in your state
Requirements for Builders Warranty Insurance vary from state to state. imar can help ensure you have the required cover in place and can arrange warranty insurance cover for builders in Victoria, New South Wales, the Australian Capital Territory, South Australia and Western Australia.
A full list of defined events are included in the policy document. The imar Builders Warranty Insurance product is subject to the policy terms and conditions. Exclusions and sub-limits may apply.